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MeldingsID: 437623
Dato/tid 01.11.2017 06:00
Utsteder Axactor AB (publ)
UtstederID AXA
Instrument AXA
Marked OB
Informasjonspliktig   Informasjonspliktige opplysninger
Tittel Axactor Q3 2017 - Continues to deliver on strategy, with rapid development and growth
Highlights third Quarter of 2017
- Continued positive operational performance and to grow the 
- Signed and closed a co-investment partnership with Geveran 
Trading Co. Limited, with a EUR 300 million investment capacity. 
- Future growth opportunities fueled by additional funding 
facilities from the banks, in addition to the partnership with 

-	Gross Revenue of EUR 23.6 million (11.1)
-	EBITDA of EUR 2.0 million (-0.8)
-	Cash EBITDA at EUR 6.2 million (-0.1) 
-	Net result positive with EUR 0.3 million (-2.1)

Axactor continued to show positive operational performance in the 
third quarter of 2017, and to grow the business according to the 
communicated strategy through acquisitions of NPL (non-performing 
loan) portfolios and signing of new 3PC (third party collection) 
contracts. As notified in Q2, summer holiday both for our staff 
and debtors, and less number of available portfolios from banks 
and financial institutions during this period, led to lower 
Axactor achieved an EBITDA of EUR 2.0 million and Cash EBITDA of 
EUR 6.2 million in Q3. The corresponding numbers for the same 
period in 2016 was EUR -0.8 million and EUR -0.1 million. The 
operating margin was 10 % in Q3, compared to -7 % in the same 
quarter in 2016. The gross revenue of EUR 23.6 million was in line 
with the company's expectations.
The main event of the quarter was the signing of a letter of 
intent with Geveran Trading Co. Limited to enter in to a co-
investment partnership (SPV) with a EUR 300 million investment 
capacity. The transaction was closed in October 2017. This was an 
important strategic milestone for Axactor, bringing the company to 
a new level, and puts Axactor in a position to compete for larger 
portfolios. In addition, Axactor has an exclusive service 
agreement for debt collection on behalf of the SPV, which will 
generate additional 3PC revenue for Axactor.
In conjunction with the signing of the partnership with Geveran, 
Axactor did a private placement directed at Geveran Trading Co. 
Limited and other large existing shareholders of Axactor, bringing 
Geveran to own 9.96 per cent of the outstanding shares in Axactor. 
Axactor's total investment capacity at the end of Q3 totals more 
than EUR 430 million and this could be further increased as we 
conclude the re-financing discussion of the current RCF with our 
Nordic banks during Q4. The company's total financial position 
supports continued rapid development and growth, in line with the 
communicated strategy.
Axactor's development over the last two years, and the 
opportunities that have emerged as a result of the partnership 
with Geveran, means that Axactor in record time has evolved from 
being a startup company to being a long-term challenger with a 
strong position in our markets. But the ambitions are considerably 
 "We are pleased with the development and implementation of our 
strategy in Axactor's first two years, and are impressed by the 
organization's ability to execute initiatives to reach our growth 
targets. From the start in December 2015, we have developed the 
company to be a top 10 provider in Europe, with ambitions of 
significant growth over the coming years. Q3 is usually the 
quarter of the year with the lowest activity level in our 
industry, primarily because of the summer holiday and consequently 
less portfolios available in the market. Despite this, we maintain 
rapid development and growth, in line with our high ambitions", 
says Rangnes.
On 11 September Axactor acquired two portfolios of NPL Loans 
including auto financing and personal loans in Germany, with an 
outstanding balance of EUR 25.7m across more than 4,000 cases. In 
July Axactor signed a total of 4 new 3PC contracts with financial 
institutions in Spain and Germany for a combined estimated annual 
revenue of EUR 5 million. The contracts are renewable every 12 

The market for sales of NPL portfolios remains strong, with Spain 
and the Nordics currently being the most active markets. The 
fourth quarter has started on a strong note, with a significant 
ramp up of available portfolios. In October Axactor acquired an 
Auto Loan Portfolio in Spain from one of the major European car 
manufacturers, with a total outstanding balance close to EUR 100 
million and more than 10.000 claims. 
With a strong capital base which enables larger portfolio 
acquisitions, Axactor will pursue both medium- and large sized 
portfolios within the secured and unsecured consumer debt space. 
As a continuance of the secured portfolio which Axactor acquired 
in Spain in Q2, we are now actively seeking portfolio 
opportunities within the Real Estate Owned (REOs) segment. Through 
Axactor´s excellent relationship with financial institutions the 
company has access to a large and highly attractive pipeline, 
particularly in Spain. The REOs segments offers significantly 
higher IRRs than what we currently can expect in the unsecured 
market and provides further diversification to our business model. 
International banks have both long experience and great appetite 
for financing such transactions due to the portfolios high cash 
flow generation and short payback time. 

For additional information, please contact:

Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Email: endre.rangnes@axactor.com


Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451
Email: geir.johansen@axactor.com

About Axactor
Axactor Group specializes in both Debt Collection and Debt 
Purchasing across several countries, with operations in Italy, 
Germany, Norway, Sweden and Spain. The company has a Nordic base 
and an ambitious Pan-European growth strategy, which targets the 
market for non-performing loans (NPL) in Europe. This market is 
estimated to be about 1,500 billion euros across Europe providing 
significant opportunities for Axactor's future expansion. Axactor 
has approximately 900 employees. 

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